Corporate Governance

2011 General Governance Survey

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Shearman & Sterling LLP Shearman & Sterling LLP Table of Contents Introduction ............................................................................................2 Director Independence ...........................................................................6 Majority Voting ......................................................................................10 Risk Oversight ......................................................................................12 Board Leadership .................................................................................14 Poison Pills ............................................................................................18 Classified Boards & Other Structural Defenses ...............................19 Board Structure and Practices ...........................................................20 Related Person Transactions ..............................................................30 Corporate Governance-Related Proposals ........................................34 Corporate Governance Practices of IPO Companies ........................38 Survey Methodology .............................................................................40

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